0x: Market share up year-to-date following maker rebate-inspired token redesign

Launched in 2017, 0x is an Ethereum-based non-custodial exchange protocol. 0x popularized the off-chain order book/on-chain settlement model initially introduced by EtherDelta: third-party relayers collect orders from users, aggregate them into order books, and then execute and settle trades on-chain.

While this hybrid structure sacrifices some level of trust minimization by giving unilateral order book control to relayers, it is more performant and gas efficient than entirely on-chain exchanges like Oasis.